Bullion up more and $20s still decline

Here we are. Gold is at a new all-time high, up another 2 percent along with platinum and silver, up an amazing 4.5 percent. Gold vending machines will dispense 1-, 5-, 10-gram and 1-troy-ounce bars along with Krugerrands, Maple Leaves and Australian Nuggets in Florida and Las Vegas next year.

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They are almost 10 feet high and look like giant gold bars. Some financial experts believe this is a sign of the end coming to the bullion craze. Others believe it is just the beginning because it will create new awareness and I agree with the latter view until politicos wake up. This is a treacherous rocky road if you trade these markets. With a 1.5 percent rise in melt value most circulated eagles and double eagles have declined about 1 percent in value. Why? It is because supplies are readily available and the public is not buying. Proof gold American Eagles are in a similar situation. This is also somewhat due to Rep. Weiner’s one-man publicity campaign against Goldline. If he were truly interested in the consumer he would go after the various gold buying operations that pay 20 to 60 percent of melt value. I am not an advocate of increased regulation, but if we ever needed disclosure to protect the public that is a good place to do it.

Yikes, I am forgetting about coins here. The surge in MS-63 to MS-65 Barber coinage continues with 20-cent pieces and some other Seated Liberty coinage riding the bandwagon as well. The 3-cent silver pieces are showing nice activity in the fine to EF range.

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